Monday, August 20, 2012

next $AAPL setup

big move in last few trading days. new highs after breaking that high at 644ish from april. took profits on credit put spread today. now will be watching for a pullback to the old high..resistence becomes support..if that holds will price out spreads then and see where they are at..people acting like they just heard iphone5 is coming..seems a bit frothy here. no hurry to jump back in. setting intial alert at 650 to get on radar. the 50day is now right at 600.

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